Coronavirus lockdown: 1m firms warn of collapse if restrictions continue for three months May 11, 2020 More than 1m businesses have warned that they could not survive another three months of the coronavirus lockdown, after the prime minister last night announced some changes to the restrictions. More than 250,000 businesses said they will not be able to survive if trading conditions remain as they are for another month, according to the [...]
REC: Post-lockdown record rise in vacancies hints at UK jobs recovery August 14, 2020 More new vacancies for UK jobs were advertised last week than at any other time since the lockdown began, a new report has found. Around 126,000 new UK-based jobs were posted in the week 3-9 August, according to the Recruitment and Employment Confederation (REC). It brought the total number of vacancies across the UK to [...]
Sunak slashes VAT on hospitality and tourism to five per cent July 8, 2020 Chancellor Rishi Sunak has slashed VAT on hospitality and tourism from 20 per cent to 5 per cent for six months, as the government seeks to revive the UK economy after months of lockdown. In an unprecedented announcement in the Commons today, Sunak vowed to cut the VAT rate from next Wednesday until 12 January [...]
Pubs reap rewards of World Cup summer as third quarter beer sales grow, but Brexit uncertainty looms December 3, 2018 The haze of a long, hot World Cup summer drove British drinkers to buy more beer in the third quarter than the year before for the first time in more than 15 years. UK pubs saw beer sales grow 0.9 per cent year on year from August to October, with around 941.5m pints changing hands over [...]
London business confidence rises but gloom remains as lockdown eased May 29, 2020 London business confidence picked up slightly in May as the government lifted coronavirus restrictions, but firms grew gloomier across the country as a whole. The business barometer from Lloyds showed that London business confidence rose eight points on its gauge to minus 20. This was nonetheless close to a record low after sentiment plunged in [...]
Accountancy and finance teams must learn to embrace analytics September 29, 2020 The global pandemic has cast a new light on priorities across many different industries. Suddenly, the most important asset a pub can have is a large open garden. Low wooden beams and small rooms seem dangerous rather than charming and characterful. Public transport systems that offered efficient mass transit across cities are being shunned by [...]
Coronavirus: Moody’s downgrades Cineworld after site closures March 24, 2020 Moody’s has downgraded Cineworld after the cinema chain was forced to close all of its screens across the US and Europe in order to slow the spread of coronavirus. The two notch ratings downgrade was triggered by the temporary closures, which have been ordered by governments due to the coronavirus pandemic. Moody’s downgraded the cinema [...]
Exclusive: Richer London boroughs suffer biggest fall in lockdown spending September 11, 2020 Some of London’s most prosperous boroughs suffered the biggest falls in spending during lockdown and saw a more sluggish recovery as richer households’ lifestyles were curtailed, while less affluent areas saw a smaller drop, data provided exclusively to City A.M. has suggested. Yet some of the richer boroughs – where residents have thriving food scenes [...]
Fuller’s prepares to hand £69m to shareholders after brewery sale September 4, 2019 London pub operator Fuller’s is preparing to hand £69m in cash back to shareholders following the sale of its brewery business to Japanese producer Asahi. Shares were up 5.41 per cent after the Chiswick-based business also said like for like sales at its managed pubs and hotels had risen 2.5 per cent in the 22 [...]
UK social distancing eased under lockdown exit strategy May 11, 2020 The government has eased its social distancing measures, announcing that households will be able to socialise in the park at a two-metre distance or play sports like tennis and golf. The government’s 60-page coronavirus strategy, released today, also revealed that people will be able to meet one friend not from their household in a public [...]